PAD Construction Ltd Accounts

PAD CONSTRUCTION LTD - Company Information






PAD Construction Ltd

	Company No. 06832540
		Information for Filing with The Registrar
		28 February 2023

The Director presents his report and the accounts for the year ended 28 February 2023.

Principal activities
The principal activity of the company during the year under review was building and construction.




Director

The Director who served at any time during the year was as follows:

P.J. Killeen





































































The above report has been prepared in accordance with the provisions applicable to companies subject to the small companies regime as set out in Part 15 of the Companies Act 2006.

Signed on behalf of the board

P.J. Killeen
Director
31 May 2023

at	28 February 2023
Company No.		06832540	Notes	2023	2022
				£	£
Fixed assets

	Tangible assets		4	1,028	1,372


				1,028	1,372
Current assets

	Debtors		5	62,803	56,944

	Cash at bank and in hand			15,933	12,828
				78,736	69,772
Creditors: Amount falling due within one year			6	(23,490)	(22,115)
Net current assets				55,246	47,657
Total assets less current liabilities				56,274	49,029
Creditors: Amounts falling due after more than one year			7	(12,057)	(17,013)
Provisions for liabilities
	Deferred taxation		8	(195)	(261)

Net assets				44,022	31,755

Capital and reserves
	Called up share capital			100	100



	Profit and loss account		9	43,922	31,655

Total equity				44,022	31,755



These accounts have been prepared in accordance with the special provisions applicable to companies subject to the small companies regime of the Companies Act 2006.

For the year ended 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.



As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account.

Approved by the board on 31 May 2023
And signed on its behalf by:
P.J. Killeen
Director
31 May 2023

for the year ended 28 February 2023

General information

Its registered number is: 06832540

Its registered office is:

123 Hallgate

Cottingham

East Yorkshire

HU16 4DA

The functional and presentational currency of the company is Sterling. The accounts are rounded to the nearest pound.

The accounts have been prepared in accordance with FRS 102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland (March 2018) and the Companies Act 2006.

Accounting policies

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Revenue from the sale of goods is recognised when all the following conditions are satisfied:
• the Company has transferred to the buyer the significant risks and rewards of ownership of the
goods;
• the Company retains neither continuing managerial involvement to the degree usually associated
with ownership nor effective control over the goods sold;
• the amount of revenue can be measured reliably;
• it is probable that the economic benefits associated with the transaction will flow to the Company;
and
• the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed.

Tangible fixed assets and depreciation

Tangible fixed assets held for the company's own use are stated at cost less accumulated depreciation and accumulated impairment losses.

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss.

Depreciation is provided at the following annual rates in order to write off the cost or valuation less the estimated residual value of each asset over its estimated useful life:

Plant and machinery

25% reducing balance

Motor vehicles

25% reducing balance

Furniture, fittings and equipment

25% reducing balance

Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The Company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts.

Trade and other creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

3	Employees
			2023	2022
			Number	Number
		The average monthly number of employees (including directors) during the year was:	1	1

4	Tangible fixed assets
			Plant and machinery	Motor vehicles	Fixtures, fittings and equipment	Total
			£	£	£	£
		Cost or revaluation
		At 1 March 2022	1,995	6,500	47	8,542




		At 28 February 2023	1,995	6,500	47	8,542
		Depreciation
		At 1 March 2022	1,782	5,343	45	7,170
		Charge for the year	53	289	2	344



		At 28 February 2023	1,835	5,632	47	7,514
		Net book values
		At 28 February 2023	160	868	-	1,028
		At 28 February 2022	213	1,157	2	1,372

5	Debtors
			2023	2022
			£	£
		Trade debtors	-	12,336



		VAT recoverable	8,193	-

		Other debtors	54,610	44,608

			62,803	56,944

6	Creditors:
		amounts falling due within one year
			2023	2022
			£	£

		Bank loans and overdrafts	4,956	4,834


		Trade creditors	655	942

		Corporation tax	17,457	11,584
		Other taxes and social security	-	4,623
		Loans from directors	422	132


			23,490	22,115

7	Creditors:
		amounts falling due after more than one year
			2023	2022
			£	£

		Bank loans and overdrafts	12,057	17,013






			12,057	17,013

8	Provisions for liabilities
		Deferred taxation

			Accelerated Capital Allowances, Losses and Other Timing Differences	Total
			£	£
		At 1 March 2022	261	261
		Charge to the profit and loss account for the period	(66)	(66)

		At 28 February 2023	195	195



			2023	2022
			£	£
		Accelerated capital allowances	195	261



			195	261

Reserves

Profit and loss account - includes all current and prior period retained profits and losses.